London oil trader loses £6m
Updated on 03 July 2009
A senior London oil trader is under investigation after losing his employers millions in a series of unauthorised trades. John Sparks reports.
Steve Perkins made the trades early on Tuesday morning, sending Brent crude oil prices more than two dollars a barrel higher in less than an hour.
By the time PVM Oil Futures sold the positions, the price had fallen back again, explaining its huge losses.
